Information on four investment proposals is given below: Investment required Present value of cash inflows Net present value Life of the project Investment Proposal 14 B D $ 138,000) $ (148,000) $ (118,000) $ (192,500) 209,760 227,920 188,888 257, 282 $ 71,762 $ 79,920 $ 79,880 $ 65,280 5 years 7 years 6 years 6 years Required: 1. Compute the project profitability index for each investment proposal. (Round your answers to 2 a 2. Rank the proposals in terms of preference. Answer is complete but not entirely correct. Investment Proposal Project Profitability Index Rank Preference 0.52 Third 0.54 Second 060 First 0.30 Fourth